Predatory lending is a
term that embraces a variety of nefarious practices. In describing what it means in
actual experience, we will concentrate upon residential mortgage lending,
particularly where it involves first mortgage loans for elderly persons who
often have substantial equity in their homes but few other assets and only
modest incomes.

In these
pages, we address
what we believe to be the most significant features of the
subprime lending industry
and what are predatory practices. (Of course, just because a business is
involved in subprime lending doesn't mean it has engaged in predatory
practices.) We urge people facing foreclosure to seek advice from a certified
housing counselor, and if that fails, we discuss how to challenge foreclosure. We
then describe the complaints in the cases we
have filed. We discuss the results of cases
where damages were awarded in lawsuits filed by others. Finally, we note the
hidden and high cost of arbitration.